WhatsApp plans to offer credit insurance and pension products to low-income individuals
WhatsApp plans to offer credit insurance and pension products to low-income individuals
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WhatsApp is used by many people in today's time because it is considered to be a great app. In such a situation, this app is now preparing to expand its service in India. According to information recently received from a news agency, WhatsApp is about to start services like insurance, microfinance (small loans) and pension. There are also reports about the start of the pilot project. It is being told that in India, banks and financial institutions will work with partners to make it easier for people to access financial products.

India head of the company Abhijeet Bose has given information about this on Wednesday. He said at the 'Global Fintech Fest' that 'the company will also support various new initiatives to test potential solutions to address problems related to financial product distribution'.He also said that "Facebook-owned company has been working with banking partners for more than a year to improve their digital presence and speed up financial reach in different segments and geographies of the country." WhatsApp started testing its payment service WhatsApp Pay in India in the year 2018.

It was being told that it is competing with SoftBank-backed Paytm, Flipkart's PhonePe and Google Pay in India. Due to many regulatory problems, the company could not fully implement this service in India. Now recently Abhijeet Bose said, 'We want to do this with more banks to simplify and expand banking services (especially in rural and low-income categories) in the coming years. We want to expand our use to other products like basic financial services outlined by RBI. We want to start this with micro pension and insurance.

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